Trading News

Read The Latest News & Analysis

Stripe Plans to Re-Enter Crypto Market

Stripe
Share on:

After sitting on the sidelines for more than two years, Stripe has decided to re-enter the world of cryptocurrency.

On Tuesday, the company announced its intention of getting back into the world of bitcoin. Stripe is building a crypto team that will help the company build the “future of Web3 payments”.

Stripe was once an ardent supporter of bitcoin. The company became the first one to support bitcoin in the early years. However, in January 2018, Stripe stepped back citing the decline in Bitcoin use for payments due to various reasons.

According to payment giant, the transaction confirmation time for bitcoin payments had risen, resulting in failure rates and fees rates going significantly higher. After ending support in April 2018, the company still remained optimistic regarding different crypto projects like Lightning network and others.

This time around the Stripe has again decided to dabble into the crypto market. There are a few job openings related to crypto.

The company considered this the right time to get into crypto.

In 2018, we said that Stripe would look for opportunities to help our customers by adding support for crypto in the future.’ That time has come,”

The broader strategy for Stripe is yet to be mapped out. However, a $95 billion company going back into crypto is something Crypto enthusiasts are celebrating.

Recent News

crypto market

Richest Crypto Billionaire CZ has Assets Worth $96 Billion

Cryptocurrency has cultivated a new generation of billionaires The CEO of Binance exchange, Changpeng Zhao, is the richest crypto billionaire with his wealth amounting to $96

crypto market

Crypto Market Keeps Dropping on the Watch

Bitcoin reached $32K on Monday after significantly dropping over the weekend The whole crypto market went south following the pioneer cryptocurrency The sentiments of fear

crypto market

Multi-Million Dollar Crypto Scam: Pakistan to Investigate Binance

Federal Investigation Agency (FIA) of Pakistan has started a criminal investigation into a multi-million dollar crypto scam that involved people sending crypto funds from their

crypto market

Bitcoin Buyers are Holding and Accumulating Instead of Selling, Glassnode Reveals

Glassnode’s weekly report suggests that Bitcoin buyers are now holding as 76% of the supply of the coin became illiquid In the first week of 2022, the Bitcoin market is

Let's Chat
Facebook
Twitter
Instagram
Pinterest
Youtube